Reports that Binance has withdrawn its bid for a local crypto exchange in Singapore

  • Binance was keen to set up a local cryptocurrency exchange in Singapore but has withdrawn its application

No further details at this stage.

Bitcoin seeing a few bids lost:

Bitcoin chart 13 December 2021

This brings to an end efforts by to operate a regulated cryptocurrency bourse in Singapore. As such it would have fallen under the supervision of the Monetary Authority of Singapore, which is a credible institution.

Binance's fiat-to-crypto trading platform Binance.sg will wind down operations and close by February 13.

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